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Personal Finances / Buying or Selling a Home


Subject:  Re: Debt-to-income ratio if self-employed Date:  2/11/2013  6:59 PM
Author:  richinaz Number:  124733 of 128866

Do I need to go cash only for a few months?

I've heard stories where people suggest it is better to pay off the credit card prior to the billing date to lower the average balance. Is that a myth?

I don't carry balances but like the original poster I use my ccs for almost everything (I can literally go many, many months on a single $100 withdrawal).

I've never really worried about it too much since I've never been turned down for a loan but am curious. Often things that affect scores don't make much sense such as the length of time you've had a cc. What difference is it if you get a new card every year for 15 yrs or just had one card the whole time as long as you pay the debt?

Just curious
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